(SOLVED) If a company declared cash dividends during the

year of
If a company declared cash dividends during the year of If a company declared cash dividends
during the year of $40,000 but you noticed that the Dividends Payable account had increased
from $8,000 at the beginning of the year to $10,000 at the end of the year, what amount
pertaining […]

Matthews Ltd purchased 1 million of 10 year 4 bonds on Matthews Ltd. purchased $1 million of
10-year, 4% bonds on July 1, 2018, at 108.5 (this means 108.5% of maturity value). Interest is
received semi-annually on January 1 and July 1. The bonds were trading at 107 at December
[…]

On January 1 Rook Corporation a publicly traded company purchased On January 1, Rook

Corporation, a publicly traded company, purchased 25% of Hook Ltd. common shares for
$800,000. At December 26, Hook declared a $40,000 dividend (Rook received its share that
day) and reported net income of $80,000. The shares’ […]

On June 30 150 000 of five year 10 Orbit bonds are On June 30, $150,000 of five-year, 10%
Orbit bonds are issued at $138,960 to yield a market interest rate of 12%. Interest is payable
semi-annually each June 30 and December 31. (a) Record the purchase of these bonds […]

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In April 2015 Richelieu Hardware Ltd completed a 3 for 1 stock In April 2015, Richelieu
Hardware Ltd. completed a 3-for-1 stock split. Immediately before the split, the company had
19.5 million issued common shares trading at $67.30 per share. (a) How many shares did it
have after the stock […]

On March 8 Daschen Inc a publicly traded company issued On March 8, Daschen Inc., a
publicly traded company, issued 5,000 preferred shares for cash of $30 per share. On April 20,
when the shares were trading at $35, the company issued an additional 3,000 preferred shares
in exchange for […]

On June 8 Dieppe Ltd was incorporated and issued 60 000 On June 8, Dieppe Ltd was
incorporated and issued 60,000 common shares for $300,000. On August 19, an additional
15,000 shares were issued for $90,000. On November 2, the company paid $28,800 to
reacquire 6,000 common shares and on […]

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